Property investors get decisive on Macau casinos

27.02.2006, Lesen Sie hier den Bericht über «Property investors get decisive on Macau casinos».

HONG KONG (Reuters) - At a convention in Shanghai, a group of investors with $110 billion in funds between them asked a property (and decisions) expert where in Asia he would put his money. "Without hesitation, Macau," answered Peter Barge, author of "The little book of big decisions" on how to be decisive. Barge, who is also Asia head of property consultants Jones Lang LaSalle, has two "opportunity funds" for property in the former-Portuguese colony, which is rushing to build huge casino resorts to draw Chinese gamblers in their millions.

Other foreign investors are following. What was once a speculative residential property market, supplied by local developers, is starting to attract bigger international names interested in building shopping centers, offices and flats. Citigroup Inc. has hooked up with private developer Macau Land to build two luxury high-rise apartment blocks. The site overlooks the Cotai Strip -- a parcel of reclaimed land fusing two of Macau's islands, where U.S. casino operator Las Vegas Sands Corp. is luring investors to Asia's first "neon alley" of hotels, shopping centers, casinos and theatres.

And a joint venture between Morgan Stanley, Wachovia Corp. and Hong Kong-listed Pioneer Global bought a 22-storey office tower last year. Many investors believe too many office blocks have been turned into casinos in recent years. Dan Tagliere, co-founder of Macau Land, gives regular tours of the 27 sq km territory for investment bankers, fund managers and wealthy individuals. For all these investors, property is one of the few ways to bet on Macau, which has no stock market and whose Pataca currency is pegged to the Hong Kong dollar. Lesen Sie weiter.... Reuters, by Dominic Whiting, Asia property correspondent

Über Glücksspiele in Macau - Gambling in Macao:

Macau (englisch Macao) liegt rund 50 Kilometer westlich von Hongkong und ist das Glücksspiel-Paradies in Asien.

Macau hat rund 40 Spielcasinos. Die grössten Casinos sind The Venetian Macao, MGM Macao, Wynn Macao, Galaxy StarWorld, City of Dreams, Sands Macao, Casino Lisboa.

Neben den riesigen und farbenfrohen Casinobuildings ist eines der Wahrzeichen der Macau Tower (Fernsehturm mit 338 Meter) mit atemberaubenden Ausblicken auf die Stadt.

Macau erstreckt sich über eine Fläche von 115.3 km2 und hat rund 620'000 Einwohner.

--- Ende Artikel / Pressemitteilung Property investors get decisive on Macau casinos ---


Weitere Informationen und Links:

Weitere Nachrichten der Gaming-Branche